LimeWire, a previously renowned file-sharing platform now pivoting to Web3, has acquired the rights to the notorious Fyre Festival brand and is set to relaunch it with a cryptocurrency focus.
In an announcement made on Tuesday, LimeWire revealed it had acquired the Fyre Festival’s trademark, logo, domain, and social media handles. Marcus Feistl, LimeWire’s COO, informed Cointelegraph that this new version will incorporate offline events, utilizing LimeWire’s LMWR token to grant access to various products and services.
The Fyre Festival became emblematic of failed expectations in 2017 when a purported luxury music festival in the Bahamas devolved into chaos, leaving attendees without adequate food or shelter. Its founder, Billy McFarland, was subsequently convicted of fraud and sentenced to prison time. LimeWire confirmed that McFarland is not part of the new initiative.
Feistl indicated that a fresh and distinct team is leading the project. He also assured that this new launch would not repeat the mistakes of the original Fyre Festival. “We’ll definitely not make past mistakes again,” Feistl asserted. “Our plans for Fyre extend beyond digital products, including explorations of real-world experiences.”
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Fyre Festival IP rights acquired on eBay
As reported by the New York Times in July, the rights to the Fyre Festival brand were sold on eBay for $245,000. Feistl stated to Cointelegraph that LimeWire acquired “the trademark, logo, domain, and social media accounts,” which he believes constitute “all relevant IP to the brand.”
While specific details were scarce, LimeWire emphasized that its LMWR token will play a vital role in the initiative, “enabling access to future products and services.” LimeWire CEO Julian Zehetmayr remarked that they are not resurrecting the festival but instead “reviving the brand and the meme.”
LimeWire indicated that the LMWR token will be deeply integrated into the new Fyre Festival endeavors, with Feistl adding, “There are numerous ways to incorporate LMWR into the new Fyre,” citing utility-driven and marketing applications.
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LimeWire: from file sharing to crypto
LimeWire was a well-known peer-to-peer file-sharing service in the early 2000s, ceasing operations in 2010. It reemerged with an NFT marketplace in 2022 after the rights to the name found new ownership.
In 2023, LimeWire launched a Web3 game inspired by the Microsoft Windows XP operating system, playing on nostalgia for 2000s digital piracy. More recently, in late 2024, the company returned to its roots by introducing a decentralized file-sharing feature powered by BNB Greenfield.
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